Silke Mayr Bill Gates has announced a bold timeline for his philanthropic legacy. The Microsoft co-founder revealed that he intends to shut down the Gates Foundation by the year 2045 and donate 99% of his wealth before his death. In a blog post published Thursday, Gates explained that while people may say many things about him after he’s gone, he does not want to be remembered as someone who died rich.
$300 Billion Philanthropic Target by 2045
The 69-year-old philanthropist detailed his vision to expand the foundation’s giving from its current $100 billion to a total of $300 billion over the next two decades. This goal depends on market conditions and inflation but would mark one of the largest charitable undertakings in history.
Gates referenced Andrew Carnegie’s 1889 essay “The Gospel of Wealth,” emphasizing the responsibility of the rich to give back to society. “The man who dies thus rich dies disgraced,” Carnegie wrote—a quote Gates cited to underscore his mission.
He also published a chart of his net worth, currently $108 billion, showing a downward trend to nearly zero by 2045. Despite his giving plans, Gates may still remain a billionaire due to investment returns.
Foundation’s New End Date Speeds Up Earlier Plans
This updated plan accelerates a previously slower timeline. Initially, Gates and his former wife Melinda French Gates envisioned the foundation lasting well beyond their lifetimes. Now, the foundation will use its current endowment to meet the $200 billion future pledge.
The Gates Foundation focuses on three primary goals: ending preventable deaths of mothers and children, eradicating infectious diseases like malaria and measles, and reducing poverty on a global scale.
Global Criticism and Concerns Over Foreign Aid
While Gates’s philanthropy has drawn admiration, it has also faced criticism. Some accuse him of using charitable donations to gain tax benefits and exert disproportionate influence in global health policy.
Gates has openly criticized countries like the U.S., U.K., and France for recent cuts to foreign aid budgets. He warned that the continued support of the world’s poorest people is no longer guaranteed and emphasized the need for sustained investment in development.
“We must continue supporting countries as they try to escape poverty,” Gates wrote.
Sharp Words for Elon Musk Over Aid Cuts
In a recent interview, Gates directly criticized Elon Musk, who now oversees a government efficiency department, for cutting funding to international aid programs. Gates accused Musk of harming children by dismantling key structures like the U.S. Agency for International Development (USAID).
He referenced a cut in grants to a hospital in Gaza Province, Mozambique, after former President Donald Trump claimed, without evidence, that funds were used to support militant groups. Though Musk later admitted the claims were false, the aid cuts remained.
“I’d love for [Musk] to go and meet the children who are now infected with HIV because of those funding cuts,” Gates said.
Bill Gates, who founded Microsoft with Paul Allen in 1975, stepped away from his CEO role in 2000 and left the board in 2020 to focus full-time on philanthropy. He credits figures like Warren Buffett for encouraging him to give generously.
Gates remains committed to global health, climate innovation, and educational equity. His plan to dissolve the Gates Foundation by 2045 sets a definitive endpoint to his formal philanthropy while aiming to leave a lasting global impact.